> Posted by Center Staff
Excellent post by Michael Burbano on the CGAP Microfinance Blog.
“Is Responsible Finance in Your DNA?” maps out “a way of doing business – a never-ending process of adapting your products, processes and policies to keep your clients at the center. “
Burbano, who is General Manager at Banco Solidario, uses his institution’s 15th anniversary as a starting point for reflections on two strategies: grounding the practice of responsible finance in your business model, and measuring your “responsible finance chromosomes.”
Burbano highlights the Smart Campaign‘s set of Client Protection Principles as a tool to “help MFIs to measure and evaluate the effectiveness of our responsible finance practice.” He places the Smart Campaign’s principles in the same toolkit with the Progress out of Poverty Index (PPI), Social Performance Ratings (with Planet Rating and Microfinanza Rating), and the Social Performance Indicators Audit Tool (SPI).
Burbano’s advice? Make responsible finance part of your institution’s DNA. We couldn’t agree more.
Have you read?
Making History: Investors in Microfinance Agree on Principles of Conduct
Responsible Finance: Making It Work in Microfinance